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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbung Energy & Metal on Friday approved the management’s plan to purchase a 23.8 percent stake in London-listed Bumi for $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
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